Invest in houses further out

PEOPLE are complaining about the affordability of owning a house in the Klang Valley due to the high prices of houses.

But they should not be choosy and should consider buying houses outside Klang Valley as well.

The proposed high speed rail (HRS) connections between Singapore and Kuala Lumpur will provide convenient and fast connections for areas in the South to Klang Valley.

Similarly, the proposed East Coast Rail Line (ECRL) will provide fast and convenient connections to areas like Bentong in the east.

Many years ago, a colleague of mine bought a house in Taman Melawati in Gombak and it took us more than an hour to find his house for the housewarming party.

He told us that he wanted a bigger house but could not afford to buy such a house in Petaling Jaya near our office. His house, which he bought for about a hundred thousand ringgit, is worth more than a million ringgit now.

Similarly, a friend of mine bought a semi-detached house in Rawang several years ago and we all laughed at his decision.

But he is now laughing all the way to the bank.

In the 1960s, a relative who was an electrician won some money in the 4-digit lottery.

He used the money to buy two houses in Petaling Jaya.

My father and some relatives laughed at him as there were no proper roads there then and he got low rentals for them.

When his two sons wanted to go to UK for their tertiary education in the 1980s, he sold one house to finance their education.

Who had the last laugh? Therefore, owning properties can help to finance the children’s education.

There are many elderly people who are millionaires because of the properties that they bought many years ago.

They can sell or refinance them to survive, if necessary.

Young people and those who want to stay in the Klang Valley can buy affordable smaller units like studio flats or two-bedroom units within their affordability and upgrade later when their incomes improve.

House prices will increase in tandem with inflation so if people do not buy now, they may not own a house later due to this.

The government must go all out to achieve its the target of providing 653,000 affordable homes under the 11th Malaysia plan.

THOMAS FOO Subang Jaya